April inflation up by 0.03%

Published: 16 May 2018 (958 Views)

The inflation rate increased slightly by 0,03 percentage points to 2,71% in April, the Zimbabwe National Statistic Agency (Zimstat) has said, although sceptics think inflation could be higher, as the price of fuel has been on a steady rise in the past few months.

In March 2018, Zimstat said the rate of inflation was 2,68%.

"This means that prices as measured by the all items CPI (Consumer Price Index) increased by an average of 2,71 % between April 2017 and April 2018," Zimstat said.

"The year-on-year inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the same month in the previous year."

Zimstat said the year-on-year food and non-alcoholic beverages inflation, which is prone to transitory shocks, was 4,94 %, while the non-food inflation rate was 1,67%.

The month on month inflation rate in April 2018 was 0,08 % gaining 0,33 percentage points on the March 2018 rate of -0,25 %.

The month-on-month inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the previous month in the current year.

The month-on-month food and non alcoholic beverages inflation rate stood at 0,02 % in April 2018, gaining 0,05 percentage points on the March 2018 rate of -0,03 %.